In the fast-paced world of decentralized finance, or DeFi, keeping track of where the big money is flowing can give you a real edge. Recently, Token Terminal, a go-to platform for crypto analytics, dropped an eye-opening chart on X highlighting USDC deposits into two major lending protocols: Aave and Morpho. For those new to this, USDC is a popular stablecoin pegged to the US dollar, making it a stable choice for deposits in volatile crypto markets.

The chart shows Aave pulling ahead with close to $6 billion in USDC deposits, dwarfing Morpho's roughly $2 billion. This data, captured as of November 24, 2025, underscores Aave's position as the top dog in this space.

Aave, one of the pioneers in DeFi lending, lets users deposit assets like USDC to earn interest while others borrow against them. It's built on Ethereum and other blockchains, offering features like flash loans and risk management tools. Morpho, on the other hand, acts as an optimizer, sitting on top of protocols like Aave to provide better rates and efficiency through peer-to-peer matching.

This dominance isn't surprising given Aave's recent moves. Just last week, Aave launched a new savings app for iOS, promising yields up to 9% on stablecoins like USDC with no minimum deposits. That's competitive with traditional banks but powered by blockchain. Morpho isn't slouching either, with vaults offering yields around 3-7% on USDC, as seen on their app.

Now, you might be wondering how this ties into meme tokens—the wild, community-driven coins that often steal the spotlight in crypto. Well, DeFi lending protocols like Aave and Morpho provide the backbone for liquidity. Meme token traders can deposit USDC to earn yields, then borrow against it to go long on their favorite memes without selling. High deposits mean more liquidity, lower borrowing costs, and potentially bigger pumps for meme projects. Plus, in a bear market, parking funds in stablecoin lending keeps your capital working while you wait for the next viral token.

One reply to the tweet from @GitCryptoDev summed it up nicely: "That’s impressive growth for Aave. Shows a lot of trust in their platform and stability in the DeFi space." Indeed, with billions flowing in, it's a vote of confidence in DeFi's maturity.

If you're a blockchain practitioner eyeing meme tokens, monitoring these metrics via tools like Token Terminal can help you spot trends early. Whether you're lending USDC or leveraging it for trades, understanding where the stablecoin supply is concentrated could inform your next move in the meme ecosystem.

Stay tuned to Meme Insider for more breakdowns on how DeFi intersects with meme culture and beyond.